EUR/USD: the euro could pursue its decline on the forex in the immediate short-term (UOB)

UOB believes that the EUR/USD could continue the previous day's decline.

"Yesterday's decline of the EUR/USD on the forex was stronger than expected, while the break of the 1.1860 level caused an acceleration towards 1.1831.

In the absence of any signs of stabilisation, a continuation of the decline is likely, although 1.1800 is another strong threshold that could offer support (the next support level is at 1.1770).

In a rising direction, only a movement above 1.1905 would indicate that the current decline has stabilised (minor resistance at 1.1880)."